Charity Registration No. 267945
Company Registration No. 01172959 (England and Wales)
INAS (ITALIAN WELFARE) LIMITED
A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
THE COUNCIL'S REPORT AND UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
INAS (ITALIAN WELFARE) LIMITED A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL LEGAL AND ADMINISTRATIVE INFORMATION
Council Of Management
M Cranchi L Lamberti G Lodetti D Pini R P Douglas A Bortone-Tinney G Petteni
Secretary
D Pini
Charity number 267945
Company number 01172959
Accountants Bareham & Co Canary Wharf Office 1 Blake House, Waterside Admirals Way London E14 9UJ
INAS (ITALIAN WELFARE) LIMITED A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL CONTENTS
| Page | |
|---|---|
| The Council's report | 1 - 2 |
| Independent accountants' report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the accounts | 6 - 8 |
INAS (ITALIAN WELFARE) LIMITED A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL CONTENTS
| Page | |
|---|---|
| The Council's report | 1 - 2 |
| Independent examiners' report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the accounts | 6 - 8 |
INAS (ITALIAN WELFARE) LIMITED A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
THE COUNCIL'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
The Council of Management present their report and accounts for the year ended 31 December 2020.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the morandum and Articles of Association, the Companies Act 1985 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
Structure, governance and management
The company is a company limited by guarante and does not have a share capital.
The Council of Management, who are also the directors for the purpose of company law, and who served during the year were:
M Cranchi
L Lamberti
G Lodetti
D Pini
R P Douglas A Bortone-Tinney
G Petteni
None of the Council of Management has any beneficial interest in the company.
All the activities of the charity are governed, directed and mainly financed by the Instituto Nazionale Di Assistenza Sociale Head Office in Rome, Italy. All the funds provided by its Head Offic e and donations received are unrestricted funds to be used as required to finance the general activities of the company.
Objectives and activities
The company's objects are to operate offices in the UK to provide benefit and assistance to persons of Italian nationality and to other European citizens in the UK. There has been no change in the company's objects or activities during the year.
The majority of core funding (78%) continued to be provided by the Head Office in Rome, Italy; with a further 4% of income provided by the company's fund raising activities. The company's activities were severely affected by the Coronavirus pandemic. As a result, some 18% of income was provided by job Retention Scheme grants and a local authority grant.
The Council of Management have paid due regard to guidance issued by the Charity Commission in deciding what activities the company should undertake.
Achievements and performance
INAS (Italian Welfare) Limited has been established as a charity to assist Italian nationals and other European citizens in the UK for forty-seven years. This assistance is provided by the company's main office in Central London which is run currently by four full-time and one part-time staff. There is also a branch office in Watford which provides a service to persons outside the London area. There are also a number of contact addresses in other parts of the UK who can provide advice to persons outside the London area.
The advice given by the charity is varied and can be of a general nature but is particularly given in respect of social security and state benefit matters. These activities have continued over many years without any major changes and have not changed over the year since the last report of the Council.
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INAS (ITALIAN WELFARE) LIMITED A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
THE COUNCIL'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
The core source of funding of INAS (Italian Welfare) Limited are grants from Instituto Nazionale Di Assistenza Sociale whose Head Office is based in Rome, Italy. The company also obtained donations independent of funding from Head office . These donations amounted to 4 % of income with 78 % of income continued to be provided from Head Office. The balance of income of 18% in this coronavirus-affected year came from Job Retention Scheme Grants and a local authority grant.
Financial review
The results for the year and financial position of the company are as shown in the annexed financial statements.
The only assets which the company owns are items of office furniture and equipment for use in its London and Watford offices, which are both rented premises.
Plans for the future
There have been no changes in accounting policies during the year and no future major capital commitments are planned nor any changes in its activities or establishment envisaged.
On behalf of the board of Council of Management
A Bortone-Tinney Director Dated: 13 April 2021
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INAS (ITALIAN WELFARE) LIMITED A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL INDEPENDENT EXAMINER'S REPORT
TO THE COUNCIL OF MANAGEMENT OF INAS (ITALIAN WELFARE) LIMITED
Respective responsibilities of Council of Management and examiner
The who are also the directors of INAS (Italian Welfare) Limited for the purposes of company law, are responsible for the preparation of the accounts. The Council of Management consider that an audit is not required for this year (under section 43 of the Charities Act 1993, (the 1993 Act)), and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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(i) examine the accounts under section 43 of the 1993 Act;
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 43(7)(b) of the 1993 Act; and
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(iii) to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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(i) to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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(ii) to prepare accounts which accord with the accounting records, comply with the accounting requirements of 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities;
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(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Bareham & Co
Chartered Accountants Canary Wharf Office 1 Blake House, Waterside Admirals Way London E14 9UJ
Dated: 13 April 2021
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INAS (ITALIAN WELFARE) LIMITED A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2020
| Notes Incoming resources from generated funds Grants receivable 1 Investment income 3 Job Retention Scheme and local authority grants 4 Total incoming resources Resources expended 5 Charitable activities Total charitable expenditure Governance costs Total resources expended Net income for the year/ Net movement in funds Fund balances at 1 January 2020 Fund balances at 31 December 2020 |
2020 £ 299,867 53 299,920 66,259 366,179 331,268 7,919 339,187 26,992 183,180 210,172 |
2019 £ 401,816 50 |
|---|---|---|
| 401,866 - |
||
| 401,866 | ||
| 336,278 | ||
| 7,570 | ||
| 343,848 | ||
| 58,018 125,162 |
||
| 183,180 |
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 1985.
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INAS (ITALIAN WELFARE) LIMITED A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL BALANCE SHEET
AS AT 31 DECEMBER 2020
| Notes Current assets Cash at bank and in hand Total assets less current liabilities Income funds Unrestricted funds |
2020 £ 210,172 |
£ 210,172 210,172 210,172 |
2019 £ 183,180 |
£ 183,180 183,180 183,180 |
|---|---|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2020. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
The accounts were approved by the Board on 13 April 2021
A Bortone-Tinney Director
Company Registration No. 01172959
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INAS (ITALIAN WELFARE) LIMITED A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2020
1 Grants receivable
| Donations and gifts Grants receivable for core activities |
2020 £ 12,946 286,921 299,867 |
2019 £ 25,826 375,990 401,816 |
|---|---|---|
Revenue grants received are credited to the Statement of Financial Activities in the year to which they relate in line with the relevant costs.
Capital grants are credited to deferred grants and amortised in the Statement of Financial Activities over the estimated life of the qualifying assets, which is currently 10 years.
2 Accounting policies
2.1 Basis of preparation
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005 and the Companies Act 2006.
2.2 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment 20% on reducing balance Fixtures, fittings & equipment 20% on reducing balance
3 Investment income
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Interest receivable | 53 | 50 |
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INAS (ITALIAN WELFARE) LIMITED A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
| 4 5 |
Incoming resources from grants Job Retention Scheme and local authority grants Total resources expended Charitable activities Management and administration Support costs Governance costs |
2020 £ 66,259 2020 £ 331,268 331,268 7,919 339,187 |
2019 £ - 2019 £ 336,278 336,278 7,570 343,848 |
|---|---|---|---|
Governance costs includes payments of £3,350 (2019: £3,150) in respect of reporting accountants' fees.
6 Support costs
| Management and administration £ Premises costs 90,980 Office costs 28,796 Staff costs 199,664 Other costs 11,828 331,268 |
Total 2020 £ 90,980 28,796 199,664 11,828 331,268 |
Total 2019 £ 89,245 28,040 202,209 16,784 336,278 |
|---|---|---|
7 Council Of Management
None of the Council of Management (or any persons connected with them) received any remuneration for Trustee services during the year. Mr s A. Bortone received £ 50 0 in respect of bookkeeping services provided to the company.
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INAS (ITALIAN WELFARE) LIMITED A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
| 8 | Employees | ||
|---|---|---|---|
| Number of employees | |||
| The average monthly number of employees during the year was: | |||
| 2020 | 2019 | ||
| Number | Number | ||
| Administration and office | 6 | 7 | |
| There were no employees whose annual emoluments were £60,000 or more. |
| 9 Tangible fixed assets Computer equipment Fixtures, fittings & equipment £ £ Cost At 1 January 2020 and at 31 December 2020 28,746 38,862 Depreciation At 1 January 2020 and at 31 December 2020 28,746 38,862 Net book value At 31 December 2020 - - |
Total £ 67,608 67,608 - |
|---|---|
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